Tag Archives: debt

Household debt reached a peak of $12.7 trillion in Q3 2008. Following the peak, debt declined for several years until recently. The past three years have seen a gradual increase in debt, reaching $12.6 trillion by Q4 2016. Borrowers have shifted away from housing-related debt into student loan and auto debt.

While there is generally a one- year statute of limitations for actions brought under the TILA, that statute of limitations may be extended indefinitely if the claim is brought as a counterclaim in recoupment or set-off to a debt collection action.

A rebound is underway that affects consumers and lenders positively. but Experian states that even with this positive outlook, though, consumers and lenders still should proceed somewhat cautiously.

The Federal Reserve Bank of New York released its Survey of Consumer Expectations for May 2014. The survey found that home price change expectations fell slightly for the fourth straight month, reaching a new low of 3.77 percent.

In a report released Tuesday, the Federal Reserve Bank of New York noted that aggregate consumer debt rose from last quarter, noting an increase of $241 billion dollars in the fourth quarter of 2013. The figure represents the largest quarter-to-quarter increase since 2007.